Global Cognac Market to Grow at 2.6% During 2024-2032, Impelled by In-crease in Consumption of Alcoholic Beverages

June 08, 2021 | Food & Beverages

According to the latest report by IMARC Group, titled "Cognac Market Report by Grade Type (VS (Very Special), VSOP (Very Special Old Pale), XO (Extra Old), and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Liquor Stores, Online Stores, and Others), and Region 2024-2032," the global cognac market is expected to grow at a CAGR of 2.6% during 2024-2032. Cognac is a premium alcoholic beverage produced by fermenting and double distilling grapes with white wine. It is characterized by a delicate, fruity flavor and is formulated using a variety of grapes, including folle blanche, trebbiano, and colombard grapes. Cognac offers various vital nutrients and antioxidants. Moderate consumption of cognac helps prevent strokes, reduce the risk of cardiovascular ailments, lower the chances of developing cancer, and promote bone health.

Global Cognac Market Trends:

A significant rise in alcohol consumption across the globe represents the key factor driving the cognac market growth. Additionally, the escalating demand for premium alcoholic beverages, especially amongst millennials, is acting as a growth-inducing factor. This is further supported by rising disposable incomes and improved living standards of the population. Moreover, an expansion in the foodservice industry and the introduction of cognac in innovative flavors, such as vanilla, apple, orange zest, honey, and caramel, are positively influencing the market growth. Other factors, including the use of natural and organic ingredients in the formulation process and the establishment of online retail channels, are also contributing to the market growth.

Market Summary:

  • Based on the grade type, the market has been segmented into VS (Very Special), VSOP (Very Special Old Pale), XO (Extra Old), and others.
  • On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience, liquor, and online stores, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Camus Cognac, Courvoisier S.A.S., KELT International, LVMH Moët Hennessy Louis Vuitton, Maison Delamain, Maison Ferrand, Meukow Co, Pernod Ricard, Remy Cointreau and Thomas HINE & Co. (EDV SAS).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Grade Type, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Camus Cognac, Courvoisier S.A.S., KELT International, LVMH Moët Hennessy Louis Vuitton, Maison Delamain, Maison Ferrand, Meukow Co, Pernod Ricard, Remy Cointreau and Thomas HINE & Co. (EDV SAS)
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Global Cognac Market to Grow at 2.6% During 2024-2032, Impelled by In-crease in Consumption of Alcoholic Beverages
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